Most profitable short term rental investment locations

[Batool Haider]

I am currently in an exploratory mode and trying to nail some of the best locations to purchase STR properties in. AirDNA is difficult to use for that purpose because you have limited free market searches and purchasing subscription per market is costly, especially when you don't know where to buy.

Do you guys have some recommendations for areas I should certainly look into? I looked at Arvada (CO) where +$700K property can yield $120k-$150K revenue. I then found a property in Tobyhanna (PA) where a $280K property can generate the same revenue and hence seems a much better investment in terms of cash-on-cash ROI. Joshua Tree and NC shoreline show great revenue potential too, but like Arvada (CO), the properties there are on the expensive end. Any more places you'd like to add to this list?